Floor Statements

Mr. Speaker, I rise today in support of H.R. 7321, the Auto Industry Financing and Restructuring Act, which would provide $15 billion in bridge loans for the Big 3 domestic automakers, to help them weather the current credit crunch and financial crisis.

These loans are critical for the survival of our domestic automakers, our manufacturing sector, and the American middle class.

One in ten American jobs are linked to the auto industry. Chrysler, Ford and General Motors support about 5 million American jobs. More than 1 million American workers and retirees are directly employed or supported by the major automakers. Two million Americans receive health care benefits through the auto industry. An estimated 3 million jobs would be lost in the first year if the American automakers collapsed-- nearly three times the jobs lost nationwide this year.

The Ann Arbor-based Center for Automotive Research estimates that the collapse of the domestic auto industry would mean an estimated 2.5 million jobs lost over the next year, costing Federal, State, and local governments a total of $50 billion next year and $108 billion over the next 3 years.

In my district, the dramatic drop in demand for new cars and trucks is already taking a toll on parts suppliers and our domestic steel industry. At Cliffs Natural Resources' Tilden and Empire mines in Marquette County, reduced demand for iron ore to produce steel for the automakers has led to the layoff of 350 workers. The closure of the Dura Automotive Systems plant in Antrim County caused 300 jobs to be lost. Lexamar in Boyne City had to layoff 90 workers, Northern Tool in Mio laid off 68 workers, H&H Tube in Cheboygan closed causing 60 jobs to be lost, and layoffs at more than a dozen other suppliers to the automakers across northern Michigan are the result of the current economic crisis.

What we are debating today is not new. In 1979, the Federal Government provided Chrysler a $1.5 billion loan. Chrysler paid back the full amount with interest in 4 years, and operated successfully for 2 decades because of this assistance.

Why are some of my colleagues so willing to spend more than $700 billion to help Wall Street, but so hesitant to assist an industry that creates so many middle-class jobs?

According to data analyzed by ABC News, in 2007, Wall Street's five biggest firms--Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley--paid a record $39 billion in bonuses to themselves.

Those 2007 bonuses were paid, even though the shareholders in those firms last year collectively lost about $74 billion in stock declines-- their worst year since 2002.

If split equally among the approximately 186,000 employees at the former Big Five Houses, that bonus money means an average of $201,500 per employee--almost six times the $34,076 median household income in my district last year.

Instead of preserving $200,000 bonuses, Congress should be preserving American middle class jobs.

In addition, the legislation we are considering today has greater oversight and stronger taxpayer protections than the Wall Street bailout.

There were four main principles that should have applied to the Wall Street bailout: transparency and accountability; no windfalls or golden parachutes for executives; strong oversight by Congress; and effective taxpayer protections. The Wall Street bailout final bill did not contain these safeguards.

The auto loan legislation Congress is considering today provides greater transparency, stronger restrictions on executive compensation, tough oversight provisions, and more taxpayer protections.

This legislation requires a commitment on the part of auto executives, employees, labor unions, dealers, suppliers, creditors and shareholders to participate in the restructuring efforts that will ensure the long-term viability of an industry that helped create this Nation's middle class.

The jobs of millions of middle-class Americans and the pensions and benefits of millions more depend on a vibrant domestic auto industry.

The automakers are not asking for a handout. They are asking for a loan, which in the current credit crisis only the Federal Government can provide.

This legislation includes strong protections for the taxpayers and I have every confidence the loans will be paid back with interest and the result will be a stronger auto industry and a stronger American economy.

As the automakers implement restructuring plans and the economy improves, these loans will have laid the groundwork for the recall of laid-off workers and the creation of new jobs.

Doing nothing is not an option. Inaction by Congress would cost the American taxpayers more than this legislation.

I urge my colleagues to vote ``yes'' on this important loan assistance for the automakers, to preserve middle-class jobs and improve our economy while protecting taxpayers!

Madam Speaker, I rise to recognize Sandra Poindexter of Marquette, Michigan. Professor Poindexter has been named Michigan's Professor of the Year and I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring her for this accomplishment.

Sandra Poindexter, who teaches information systems at Northern Michigan University, has been recognized as Distinguished Professor of the Year by the presidents of Michigan's 15 public universities. She is being honored for her sustained commitment to creating and infusing innovative teaching strategies and experiential learning opportunities into the classroom.

This special recognition for Professor Poindexter is the most recent of many she has received for her innovations to learning, which expand the classroom into the community and around the world. Some of her special innovations to learning include creatively integrating the Internet and notebook computers into academic environments, forming team-based and service-learning experiences and also fostering international education through student and faculty exchange programs and developing the International Information Technology Student Conference.

Northern Michigan University in the Upper Peninsula is committed to the high-quality, visionary teaching that Sandra Poindexter embodies and this special award celebrates her many contributions to the academic world.

Madam Speaker, as Sandra Poindexter accepts the honor of being named Michigan's Professor of the Year, I ask that you and the entire U.S. House of Representatives join with me in congratulating her on this momentous occasion. Teachers like her are always appreciated and I thank her for her contributions to education.

Madam Speaker, I rise to recognize the players and coaches of the Alpena High School girl's softball team. They were Michigan state runner-up champs for high school girls' softball in Division I play and I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring the outstanding Alpena Wildcats.

No one can fault the girls for being disappointed after their 14- inning 2-1 loss to the Garden City Cougars in the state championship game. After years of finishing the season at the district tournament, the Alpena High School girls' softball team finally broke away from that barrier and made it all the way to the State final in which they finished second. Their hard-fought advancement to the State Final is a source of great pride not only to the softball team and high school, but also for the Alpena community as a whole.

This championship run was a defIning moment in girls' softball for the Alpena area. Head Coach Paul Marwede was quoted as saying ``I've been proud of these kids from day one . . . I will be proud of them for the rest of my life.'' What this girls' softball team accomplished was extraordinarily special and will always be remembered for years to come.

I wish to congratulate each of the players and coaches on a memorable season. These players and coaches include: Rachel Gebauer, Aubrey Kowalski, Kursten Paczkowski, Leah Cox, Nikki Preuss, Alyssa Smith, and Rachel Brown, Allison Keen, Brandy Lancewicz, Kayla Paczkowski, Katie Prevo, Leah Ventimiglia, Head Coach Paul Marwede, assistant coaches Jason Barbeau, Louie Hoppe, Brittney Kirkwood and Christin Sobeck and trainer Brad Nash.

Madam Speaker, as the Alpena High School girls' softball team celebrates a memorable season and a second-place finish, I ask that you and the entire U.S. House of Representatives join with me in congratulating them on this extraordinary accomplishment. This truly is a time in these young women's lives that they will never forget.

Madam Speaker, I rise to recognize the Honorable Garfield W. Hood on his 35 years of service. Judge Hood retires this year as Chief Judge of Michigan's 12th Circuit Court, serving Houghton, Keweenaw and Baraga Counties in Michigan's Upper Peninsula. I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring and thanking Judge Hood for service to the people of Houghton, Baraga and Keweenaw Counties.

Garfield Hood, or Gar to most, moved to Baraga County after law school to take the position of tribal attorney for the Keweenaw Bay Indian Community. He was appointed Baraga County Probate Judge in 1972, the youngest person in the State of Michigan to hold the job, and continued to serve as a tribal attorney and worked private practice in the Western Upper Peninsula. Since 1990, Judge Hood has been Circuit Court Judge for Michigan's 12th Circuit. Judge Hood and his wife, Sue, reside in Baraga County. Together they have raised three wonderful daughters.

Judge Hood came to the bench by appointment in 1972. Then-Governor William Milliken needed someone to fill the Baraga County Probate judgeship and Hood was the only attorney in town. A few years later, he was hooked and in 1990 ran for election to the 12th Circuit Court.

Judge Hood has enjoyed the variety of his work as judge and his interactions with the people he serves. On average, Judge Hood ruled on 9,200 cases a year--7,000 civil and more than 2,000 criminal matters. The attorneys, judges and staff who have spent the majority of their careers arguing cases in front of Judge Hood or working for him, say the courtroom won't be the same without him.

Madam Speaker, Judge Hood has been an intrinsic part of Michigan's judicial system as a member of the 12th Circuit Court. I ask that you and the entire U.S. House of Representatives join with me in thanking Garfield Hood for his 35 years of service and in wishing him well as he embarks on his retirement.

Madam Speaker, I rise to recognize Larry Inman as he receives Northern Michigan University's Distinguished Alumni Award. Larry is a northern Michigan resident who has been an exemplary leader in business, in his community and in the State of Michigan. I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring Larry as he receives this award for his service to NMU and his community.

Larry earned an associate's degree from Northwestern Michigan College in Traverse City before graduating from Northern Michigan University in Marquette in 1976. He is a retired vice president of Huntington National Bank. Since he was first elected in 1993, Larry has served as a Grand Traverse County Commissioner, where he has been instrumental in assisting with economic development for the county.

Beyond his career in banking and service to the Grand Traverse region, Larry has also served the State of Michigan in a number of capacities. Since 1998, he has represented a 10-county region of the Northwest Michigan Council of Governments. He serves on the Michigan Community Corrections Board, which he chaired from 1999 to 2006. Larry served 4 years on the NMU Board of Trustees and recently began a term with the NMU Foundation Board of Trustees. He is also a lifetime member of the NMU Alumni Association.

Larry remains active in the Michigan Association of Counties (MAC). He quickly rose through the ranks of MAC and served a term as president of the organization. He travels to Washington annually to represent the interests of local governments across Michigan.

The Northern Michigan University Alumni Association Awards are presented to NMU alumni who have been a positive influence on their professions and their communities through public service or distinguished themselves through outstanding achievements. I can think of no one more deserving of this honor than Larry Inman.

In addition to being a good friend of mine, Larry Inman has distinguished himself through his service to his community. His public service and continued commitment to Northern Michigan University are an example for us all to follow.

Madam Speaker, I ask that you and the entire U.S. House of Representatives join me in congratulating Larry Inman as the Northern Michigan University Alumni Association Board of Directors honors him with the Distinguished Alumni Award.

Madam Speaker, I rise to recognize St. Paul the Apostle Catholic Church in Calumet, MI, on its 100th anniversary. St. Paul the Apostle Church is celebrating its centennial in October and I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in commemorating this historic milestone.

St. Paul the Apostle Church was founded in 1889 by Slovenian immigrants who came to the Copper Country to work in the mines. Formerly known as St. Joseph, the first structure on the same site was a wooden church that was razed in 1902 by a fire. The present structure, with its impressive twin spires towering over the community, was built in 1908 of Jacobsville sandstone. By 1966, the population of Calumet had drastically declined and St. Joseph's closed. However, the former St. Joseph's re-opened the next day with a new name: St. Paul the Apostle.

The building's storied history is of particular pride to its parishioners, who began a capital campaign to restore some of the remodeled elements from 1966 to their former glory. More than $1 million was spent on various projects, from the installation of an elevator and new roof, to upgrades in the electrical system and replacement of carpeting. Some of the more aesthetic elements in the church have also received a makeover from the Affiliated Artists of Milwaukee, WI.

A great deal of money, effort, blood, sweat, and tears went into St. Paul the Apostle Church in Calumet. Under different names, this Catholic community of believers has been a point of pride for the entire Calumet community for 100 years. I join with parishioners and the entire Calumet community in wishing St. Paul the Apostle Catholic Church well as we mark this milestone and look forward to another 100 years of stories.

Madam Speaker, as St. Paul the Apostle Church celebrates its centennial this October, I ask that you and the entire U.S. House of Representatives join with me, the parishioners, and the entire Calumet community in wishing St. Paul the Apostle Catholic Church well as we mark this milestone and look forward to another 100 years of stories.

Madam Speaker, I rise to recognize Richard (Dick) LaCosse on his induction into Upper Peninsula Labor Hall of Fame. A resident of Escanaba, Michigan, Mr. LaCosse will be honored at the U.P. Labor Hall of Fame Induction Banquet on October 11, 2008. I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring Mr. LaCosse on this momentous occasion.

Richard LaCosse began his career in 1969 when he went to work at Mead Paper in Escanaba, Michigan. He joined United Paperworkers International Union, UPIU, Local 110, which is now United Steelworkers, USW, Local 2-21. Dick LaCosse quickly became actively involved in his local union and soon became a shop steward. He was appointed to the position of Chief Steward and vice president in June 1978 and was elected president of the local union in January 1981. In August 1983, he was appointed to the position of international representative.

During his 25 years with the International Union he served at one time or another as: a member of the Delta County Trades and Labor Council; member of the Board of Directors of the Upper Peninsula Labor/ Management Council, including a term as its president; chairman of the Niagara of Wisconsin Jointly Trusted Pension Plan; trustee of PACE International Union's Pension Plan; member of the Board of Directors of the Upper Peninsula Private Industry Council; treasurer of the Upper Peninsula Safety Council; member of the Governor's Task Force on Education; member of Michigan's School to Work Committee; member of the Delta/Schoolcraft Education Advisory Development Board; member of the UPIU/Scott Paper Joint Advisory Committee; steward of the Representatives and Organizers Union; member of the Advisory Planning Committee of Northern Michigan University's Labor Education Division; planning commissioner for the city of Escanaba; member of the Delta County Economic Development Alliance Board; member of the USW/SCA Joint Advisory Committee; executive board member of the Michigan and Wisconsin State AFL-CIO. Mr. LaCosse has also been a guest instructor on labor issues at Northern Michigan University, Bay de Noc Community College and several area high schools.

In 2003, at the first convention of PACE International Union, Mr. LaCosse was elected vice president and regional director of Region 10, which was the largest region in PACE. In 2005, PACE International Union merged with the United Steelworkers of America to become the USW International Union, the largest industrial union in the nation. On March 1, 2006, he was installed as international vice president with responsibility for national paper bargaining in the newly merged union. Mr. LaCosse retired from the USW on March 1, 2008.

Madam Speaker, Richard LaCosse has spent a career advocating for the rights of his colleagues. Dick's years of service have no doubt made an impact on countless workers across the country. I ask that you and the entire U.S. House of Representatives join me in honoring and thanking Richard LaCosse as he received a well-deserved induction into the Upper Peninsula Labor Hall of Fame.

Madam Speaker, I rise to recognize Dickinson County Sheriff Don Charlevoix. Sheriff Charlevoix, Dickinson County, Michigan's longest serving sheriff, will retire at the end of this year after 31 years in law enforcement. As a former Michigan State Trooper, I have a special appreciation for the service of public servants like Sheriff Charlevoix, and I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in paying tribute to his 20 years of service with the Dickinson County Sheriff's Department.

Sheriff Charlevoix started his law enforcement career in 1977 with the Northern Michigan University Public Safety Department from 1977 to 1983. He worked for the Marinette City Police Department for a short time, and then the Norway Police Department from 1983 to 1988 prior to being elected sheriff in 1989.

Sheriff Charlevoix instituted many changes in the Dickinson County Sheriff's Office over the years and developed an outstanding and dedicated staff of law enforcement officers and employees. In addition to guiding the office through several expansion projects, Don Charlevoix continued to acquire numerous grants and successfully maintained and developed valuable programs such as D.A.R.E., Marine, Snowmobile, ORV Patrols as well as airport and courthouse security programs.

As a former president of the Michigan Sheriff's Association, Sheriff Charlevoix is widely recognized by his peers as one of Michigan's top sheriffs. He was instrumental in forging a truly cooperative working relationship among law enforcement agencies, county officials and numerous local governmental entities. In addition to overseeing a staff of 61 full and part-time employees at the Sheriff's Office and Correctional Center, Sheriff Charlevoix always found time to work and speak with the people he served and has always been completely dedicated to helping the public.

When he announced he would be retiring, Don told the Iron Mountain Daily News: ``I will miss the people more than anything. Serving as your sheriff has truly been a pleasure and I will always look back fondly upon the many wonderful memories and relationships that we have developed over the years.''

Don Charlevoix and his wife, Teresa, have a wonderful family and he hopes to spend more time with them when he retires. He plans to do some traveling and find some time to ride his motorcycle a little more. The Charlevoixs plan on staying in Dickinson County, in the place they love best.

Madam Speaker, the dedicated men and women who enforce the law to protect their communities rarely receive the praise they deserve. I ask that you and the entire U.S. House of Representatives join with me in congratulating Sheriff Donald Charlevoix on a job well done and in wishing him well in his retirement.

Madam Speaker, I rise to recognize Mr. Dennis Maufort on his retirement from the United States Department of Agriculture. Mr. Maufort will be retiring as Area Director for USDA in the Upper Peninsula after more than 37 years. I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring and thanking Dennis Maufort for his 37 years of service to our community, State, and country.

Born and raised in Menominee, MI, Dennis Maufort is a native of Michigan's Upper Peninsula and has been proud to serve his fellow community members these many years. Dennis Maufort and his wife, Karen, have been married for 34 years. Together they have two wonderful children. Dennis was active in coaching minor league baseball for 4 years and senior league baseball for 5 years in Gladstone while his children were young. He also served as his daughter's fifth and sixth grade basketball coach.

Dennis Maufort graduated from Western Michigan University in 1971 with a degree in agriculture and a minor in general business. He went to work for what was then called the USDA Farmers Home Administration in June 1971 as an Assistant County Supervisor in the Marquette County Office. He served the residents of Marquette, Dickinson, and Alger Counties, providing single-family home loans and working with area farmers to provide loan and grant assistance. Dennis moved to Escanaba in 1977 as Farmers Home Administration County Supervisor. When the District Office was created in 1978 in Escanaba, he became the District Director, supervising six county offices located in Escanaba, Marquette, Ewen, Sault Ste. Marie, Petoskey, and Alpena, MI.

During the farm crisis in the 1980s, Mr. Maufort became involved in the Upper Peninsula Market Livestock recordkeeping project at the Upper Peninsula State Fair. Each person involved in 4-H who is raising an animal for sale at the fair must submit a record book for his or her livestock project documenting how the animal was raised and recording feed and maintenance cost for the animal. Dennis spearheaded the committee of employees who volunteered their time to review and analyzed the record books, interviewed the students, and awarded the ribbons. The committee consists of employees from USDA Rural Development, Farm Service Agency, and Farm Credit Services. Mr. Maufort has also served on the Dairy Science Advisory Council and as an advisor for the Rotational Grazing Project with Michigan State University.

USDA Farmers Home Administration is now USDA Rural Development, and Mr. Maufort works out of the agency's office in Gladstone, MI. He has been instrumental in developing a working relationship between the Native American Tribes in the Upper Peninsula and USDA Rural Development. The Gladstone Office processed the first Tribal Loan in the State of Michigan because of Mr. Maufort's personal dedication to the application.

Dennis Maufort has been a tremendous asset to the Upper Peninsula and all of Michigan over the course of his 37 years with USDA. He processed the first USDA loan for a Michigan hospital in the 1970s at Munising Memorial Hospital, and he also was instrumental in coordinating the first Hydroelectric Power Loan in Norway, MI, in the early 1980s. More recently Mr. Maufort worked with the County Board for Keweenaw County in providing assistance for the Keweenaw Mountain Lodge in Cooper Harbor, MI. Mr. Maufort also worked with the city of Houghton to obtain a loan for the Houghton Public Library which overlooks the estuary in Houghton and provides services for the entire county. These are just a few of Dennis Maufort's many accomplishments since he started working at USDA.

Madam Speaker, Mr. Maufort has been a vital asset to USDA Rural Development during his career. His contact with the communities he has served has increased the quality of life for countless citizens in Michigan. I ask that you and the entire U.S. House of Representatives join me in congratulating Dennis Maufort on a job well done and in wishing him well in his retirement.

Madam Speaker, I rise to recognize Archie Manina of Rose City, MI. Mr. Manina has served as director of the Ogemaw County Veterans Affairs Office for 26 years will be retiring effective November 30. In recognition of his quarter-century of service, I ask that you, Madam Speaker, and the entire U.S. House of Representatives join me in honoring Archie Manina on this momentous occasion.

Mr. Manina was born in Rose City, Michigan and spent the early years of his life living on a rural farm in Gratiot County, MI. For a time,

he attended a one-room country school and then a parochial school in Alma, MI. In the summer of 1956, his family moved to the small farming community of Ithaca, MI. Mr. Manina went on to graduate from Ithaca High School in 1965 and attend Central Michigan University to study secondary teaching. He worked as a harness horse groom and horse trainer during his summers while in college, a hobby that has stuck with Mr. Manina throughout his life. In June 1969 he graduated with a degree in secondary education and was simultaneously commissioned a second lieutenant in the U.S. Army.

In July 1969 Lieutenant Manina went on active duty and after completing the Infantry Officer Basic Course and Airborne School he was assigned to the 82nd Airborne Division at Fort Bragg, NC. He was reassigned to Vietnam and served there until May 1971 as a platoon leader and intelligence officer. For his service, Lieutenant Manina was awarded the Bronze Star Medal, Combat Infantryman's Badge, and Basic Parachutist's Badge.

Upon release from the Army, Mr. Manina trained harness horses for a year prior to entering graduate school at Central Michigan University in August 1972. He graduated with a special education certificate in June 1973 and soon after received a master's degree in special education. On August 4, 1973, he married Susan Hashbarger and they soon moved to La Grange, IN, where Mr. Manina taught at Lakeland High School. Archie and Sue were blessed with two sons.

In 1975, Archie and Sue Manina moved back to Michigan, where Archie worked in Roscommon, MI, as teacher for severely mentally impaired students. In June 1979, he left the education field and became the assistant to the administrator of Ogemaw Valley Medical Facility in Rose City until January 1984. In June 1983, Archie Manina became the director of Veterans Affairs in Ogemaw County, a position he still holds today.

As a U.S. Army veteran himself, Archie Manina has been a tireless advocate for Ogemaw County's veterans these past 26 years and has distinguished himself as a true leader in the community. Mr. Manina has worked for more than a quarter century to help honor the commitment our Nation has made to our veterans. For this, I know he has the gratitude of Ogemaw County's veterans and the entire Ogemaw County community.

Madam Speaker, Archie Manina is a humble man who has worked hard to recognize his fellow veterans for their achievements, while never seeking recognition for his own. I ask that you and the entire U.S. House of Representatives join me in thanking and saluting Mr. Archie Manina for his 26 years of service with the Ogemaw County Veterans Affairs Office and wishing him well on his retirement.

Madam Speaker, I rise to recognize Gerald A. Ehinger of West Branch, Michigan. Mr. Ehinger has been named Ogemaw County's Veteran of the Year, and I ask that you, Madam Speaker, and the entire U.S. House of Representatives, join me in honoring him on this momentous occasion.

Born in West Branch, Michigan on February 9, 1927 to Anthony and Elizabeth Ehinger, Gerald Ehinger grew up in a large family with six brothers and three sisters. He attended and graduated in 1943 from St. Joseph Catholic High School of West Branch. After graduation Mr. Ehinger held several different jobs until he joined the U.S. Army.

In November of 1945, he enlisted in the U.S. Army and attended basic training at Camp Crowder, Missouri. Following graduation, he was assigned to the 972nd Signal Service Battalion, stationed at Konehe Naval Air Base in Hawaii. He served there for one year installing and repairing communication lines throughout the island. In February 1947, he was honorably discharged and returned back to his hometown of West Branch, Michigan.

From 1947 until his retirement in 1983, he worked for Consumers Power Company as a service lineman, working the last 25 years as a lineman supervisor. On May 12, 1956 he married his wife of 52 years, Joan. Together they have four wonderful children, three daughters and a son: Geri Marie, Katherine, Susan and John. Gerald and Joan are also the proud grandparents of six.

Since he left the Army, Mr. Ehinger has been involved in numerous civic and veterans organizations, including: the American Legion Post 103, of which he is a lifetime member of more than 50 years; the Knights of Columbus and the National Rifle Association. Mr. Ehinger has also served on the Board of Directors of Ogemaw County's Emergency Assistance Program and as President of the Spring Creek Hunt Club.

Gerald Ehinger is being honored as Ogemaw County's Veteran of the Year this Veteran's Day by the Ogemaw County Veterans Alliance. In accepting the award, Mr. Ehinger wrote, ``I accept this award knowing that many other veterans are more deserving of it than I am and do so wish to thank each and everyone for this honor.'' Himself a U.S. Army veteran, Mr. Ehinger has been an advocate for the veterans of Ogemaw County and a distinguished leader within the community.

Madam Speaker, Mr. Ehinger selflessly served his country and has advocated for his fellow veterans ever since. I ask that you and the entire U.S. House of Representatives join with me in honoring Gerald Ehinger as he receives the Veteran of the Year award from the Ogemaw County Veterans Alliance.

Mr. Speaker, today the House will vote on the Great Lakes-St. Lawrence River Basin Water Resource Compact. I am asking Members to vote ``no'' and slow down the approval of this compact.

I am deeply concerned that this compact would allow Great Lakes water to be defined as a ``product.'' By allowing water to be defined as a ``product,'' the compact could subject the Great Lakes to international trade agreements such as the North American Free Trade Agreement, NAFTA; or the World Trade Organization, WTO.

There is also no language in the compact that recognizes that Great Lakes water is held in public trust. The public owns the waters of the Great Lakes, and anything Congress passes should preserve this principle.

The compact was created in response to the first large-scale threat of privatization of the Great Lakes. In 1998 the Ontario Minister of Natural Resources granted a permit to a private firm, the Nova Group, to ship millions of gallons of Lake Superior water to China. I led the fight opposing the sale of our Great Lakes water, and we were successful in pressuring the Canadian Government to suspend this permit. This case exposed the region's vulnerability to private and public entities who wished to commercialize the world's largest body of fresh water for financial gain. While the original intent of the Great Lakes Compact was to protect our water from diversions, the compact the States have sent to Congress may unintentionally have the opposite effect and set a precedent that would open up the door to water diversions.

The Great Lakes Governors have spent more than 3 years addressing the local and State implications of the compact. Unfortunately, we have not undergone the same deliberative process. We have spent less than 20 legislative days since the introduction of this legislation. We have conducted no hearings to consider the Federal and international implications. Congress is rushing to a vote when one of our Nation's most precious natural resources, the Great Lakes, is at stake. So before we ratify the Great Lakes Compact, the following questions must be fully investigated:

First, how does the compact's exemption of water in containers smaller than 5.7 gallons affect the Federal prohibition on diversions under the Water Resources Development Act?

Second, will creating a Federal definition of Great Lakes water as a ``product'' subject it to international trade law or agreements such as NAFTA or WTO?

Third, what actions taken by the Great Lakes States to protect the Great Lakes from international commercial entities who seek to privatize the Great Lakes ever be subject to claims under GATT, the General Agreement on Tariffs and Trade; or the WTO?

I have asked these questions to the International Joint Commission, the United States Trade Representative, and the Department of State before Congress adjourned for the August recess. While these agencies have acknowledged my requests, they were unable to provide any substantive answers. Without answers to these questions, Members should vote ``no'' on this legislation. I do not know how any Member in good conscience could vote to approve legislation that may unintentionally open the Great Lakes water to diversions through privatization, commercialization, and exportation. So I urge my colleagues to slow this process down. There is no time limit on this agreement. We can take our time.

So I urge you to vote ``no'' on Senate Joint Resolution 45 so we may fully address the questions and pass a compact that truly protects the Great Lakes.

Mr. Speaker, on that I demand the yeas and nays.

Mr. Speaker, this legislation does one simple thing--it requires health insurance companies to be up front and honest with their policyholders when they place limitations and restrictions on benefits prior to selling them an insurance policy.

Currently, the way insurance regulations are set, many Americans are unaware that their health insurance may not cover injuries resulting from certain recreational activities because their policy is unclear or very broad.

This lack of clarity has created a confusing situation for individuals that may ride motorcycles, horses, snowmobiles, or participate in other recreational activities.

While millions of Americans enjoy these activities safely every year, when an individual is injured, they often find that their insurance will not cover their medical expenses until it is too late.

H.R. 6908 would require that any limitations and restrictions on insurance benefits be explicit and clear. Insurance companies would be required to make available to participants and beneficiaries in an easily understandable manner a description of the limitations and restrictions included in the policy.

By passing this straightforward legislation, we will protect our constituents that ride motorcycles, horses, snowmobiles, or participate in other recreational activities from being caught by surprise when they thought that their policy covered any possible injuries from their accident.

I encourage all of my colleagues to vote in support of this legislation.

I want to thank Congressman Burgess for his work on this legislation as well as Chairmen Dingell and Barton.

I also want to thank Bridgett Taylor, Ryan Long, and Josh Martin with the Committee staff and Erika Orloff of my personal staff for their hard work on this legislation.

Mr. Speaker, I rise in support of H.R. 6604, the Commodity Markets Transparency and Accountability Act.

As chairman of the Oversight and Investigations Subcommittee of the House Energy and Commerce Committee, I have held two hearings on excessive speculation and its effect on energy prices.

We learned that in 2000, physical hedgers--businesses like trucking companies, airlines, and other industries that need to hedge to ensure a stable price for fuel in future months--accounted for 63 percent of the oil futures market.

Today, physical hedgers only control 19 percent of the market. Approximately 81 percent of the market has been taken over by swap dealers and speculators, a considerable majority of whom have no physical stake in the market.

Since the Enron loophole became law in 2000, there has been a dramatic shift as physical hedgers continually represent a smaller portion of the market. This excessive speculation is a significant factor in the price Americans are paying for gasoline, diesel, and home heating oil.

Just yesterday, JP Morgan's global chief investment officer, Michael Cembalest, wrote: ``there was an enormous amount of speculation pent up in energy markets * * * and it wasn't just the supply-demand equation. Oil will rise again, and we need solutions to energy supplies, but $140 in July 2008 was ridiculous.'' Even the speculators admit they're inflating energy prices.

Last week, the Commodity Futures Trading Commission, CFTC, released a report that it claims shows that speculators are not affecting prices.

However, CFTC even admits in its own report: ``This preliminary survey is not able to accurately answer and quantify the amount of speculative trading occurring in the futures markets.''

How can the CFTC tell Congress that speculation is not a problem if they can't even tell us how much speculation is occurring? This is a study that made its conclusions before it had the facts to back them up.

I encourage Members and those watching at home to go to the website: accidentalhuntbrothers.com. On this website is a report by Michael Masters, 1 of 11 witnesses who testified at our June 2008 O&I hearing.

This report shows what my colleagues and I have been saying for a long time. The price of oil has become completely detached from supply and demand fundamentals.

As the report shows, it's very simple: When index speculators pour large amounts of money into commodities markets, prices go up. When these same speculators pull their money out, prices go down.

As you can see in this chart, from January through May 2008, index speculators poured more than $60 billion into commodities, causing crude oil prices to increase $33 a barrel.

Then, starting on July 15, 2008, index speculators reduced their investments by $39 billion, causing prices to decrease by about $29 a barrel.

Even more startling, index speculators completely ignored supply and demand signals.

During the first 3 months of 2008, index speculators bet on high energy prices when the Energy Information Agency, EIA, forecast increasing supply, which should mean lower prices.

In July, when EIA forecast that demand would exceed supply, a sign that oil prices should go up, index speculators began to pull $39 billion out of the market.

Today, we face hurricanes in the Gulf of Mexico, civil war in Nigeria, OPEC considering production cuts, the situation in Georgia, and continuing violence in the Middle East. In the past, each of these events would have sent crude oil prices through the roof.

However, because speculators have been pulling their money out of the market, crude oil is at $91.49 a barrel. This is $53.67 lower than it was just 2 months ago.

If there is anyone that can show me any reason, other than speculators pulling out of these markets, that the price of crude oil should drop $53 in 2 months, I'd like to see it.

While the Peterson bill may not have everything that I've called for in my legislation, the Prevent Unfair Manipulation of Prices, PUMP, Act, it does take significant steps to rein in excessive speculation.

The bill would strengthen position limits on regulated markets, and establish an advisory board to set position limits while still protecting physical hedgers. It addresses the foreign boards of trade loophole, and properly limits the bona fide hedging exemption to physical hedgers.

The legislation would improve the information available to the Commodity Futures Trading Commission, significantly improving CFTC's ability to monitor energy markets. And, should the CFTC find excessive speculation on unregulated markets as a result, CFTC can take the steps necessary to correct it.

I was proud to support this legislation in July, when it should have passed. Unfortunately, 16 of my Republican colleagues decided to change their vote, playing politics instead of providing relief to Americans facing high energy prices.

While it has not been the only factor, speculators have seen that Congress is serious about acting to curb excessive speculation, and the markets are responding accordingly.

I urge members to continue their support for H.R. 6604, so we can continue to show speculators that Congress is serious about protecting American consumers.

I thank Chairman Peterson and his staff for working with me and my colleagues to produce this legislation. I urge my colleagues to vote for H.R. 6604, the Commodity Markets Transparency and Accountability Act, to rein in excessive speculation and provide your constituents with relief from high gas prices.